Keystone's SPX 60-Minute Chart with 200 EMA Cross

This chart provided lots of drama yesterday as price came up to cross up and over the 200 EMA but fell back under. That completes two back tests of this important moving average over the last three days. The bears took control for the hours and days ahead starting 10/19/12 and that trend remains, for now. Today's action is important. The S&P futures have been down 15, recovered overnight to up five, and over the last hour have given up the ghost again now down 9. The 1429-1435 gauntlet area is a battleground for bulls and bears that includes the 200 EMA as well as the 20 and 50-day MA's and also strong support/resistance levels. Bulls win above 1435, bears win below 1429.  The indicators formed negative divergence to push price lower into the close yesterday.  Simply watch to see if the SPX crosses the 200 EMA, or not. The bears are driving the bus currently. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.